Cresset Asset Management LLC Sells 25,143 Shares of NetApp, Inc. (NASDAQ:NTAP)

Cresset Asset Management LLC trimmed its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 67.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,230 shares of the data storage provider's stock after selling 25,143 shares during the period. Cresset Asset Management LLC's holdings in NetApp were worth $1,420,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Resonant Capital Advisors LLC raised its stake in shares of NetApp by 1.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 4,442 shares of the data storage provider's stock valued at $516,000 after purchasing an additional 80 shares during the period. Larson Financial Group LLC grew its holdings in shares of NetApp by 2.5% in the 4th quarter. Larson Financial Group LLC now owns 3,778 shares of the data storage provider's stock valued at $438,000 after acquiring an additional 92 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of NetApp by 22.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 549 shares of the data storage provider's stock valued at $64,000 after acquiring an additional 100 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of NetApp by 3.6% in the 4th quarter. Moors & Cabot Inc. now owns 2,906 shares of the data storage provider's stock valued at $337,000 after acquiring an additional 100 shares in the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in shares of NetApp by 50.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider's stock valued at $35,000 after acquiring an additional 100 shares in the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NTAP has been the subject of a number of research analyst reports. Bank of America upgraded NetApp from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $121.00 to $128.00 in a report on Wednesday, February 19th. Barclays upgraded NetApp from an "equal weight" rating to an "overweight" rating and set a $115.00 price objective for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their price objective on NetApp from $153.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Citigroup reduced their price objective on NetApp from $110.00 to $90.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Wedbush reiterated a "neutral" rating and issued a $110.00 price target (down from $120.00) on shares of NetApp in a research report on Friday, February 28th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $123.07.

Insider Buying and Selling at NetApp

In other news, President Cesar Cernuda sold 19,696 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the sale, the president now owns 11,928 shares in the company, valued at $1,075,309.20. This trade represents a 62.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $81.83, for a total transaction of $695,555.00. Following the sale, the chief executive officer now owns 249,765 shares of the company's stock, valued at approximately $20,438,269.95. The trade was a 3.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,224 shares of company stock worth $3,531,872. Insiders own 0.47% of the company's stock.

NetApp Stock Up 0.1%

Shares of NTAP traded up $0.12 on Wednesday, reaching $99.65. The company's stock had a trading volume of 1,839,794 shares, compared to its average volume of 1,922,571. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The stock has a market capitalization of $20.27 billion, a PE ratio of 18.32, a PEG ratio of 2.45 and a beta of 1.40. The firm has a fifty day moving average of $88.34 and a 200-day moving average of $108.81.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Friday, April 4th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.09%. NetApp's dividend payout ratio (DPR) is 38.52%.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.